The Latest: Cuban president congratulates Donald Trump

A staff carries balloons to decorate the venue during a live broadcasting of the 2016 U.S. Presidential Election results at U.S. Ambassador's residence in Tokyo, Wednesday, Nov. 9, 2016. . German Foreign Minister Frank-Walter Steinmeier, left, welcomes Swedish Foreign Minister Margot Wallstrom prior to talks between the foreign ministers of Denmark, Sweden, Finland and Germany in the guest house of the For... .

Up and Down – But Mostly Up – the Income Ladder

TWO RESEARCHERS at the Bank of Italy have documented something remarkable about Florence, the gorgeous Tuscan capital where the Medicis ruled and the Renaissance was born: The city's wealthiest residents today are descended from its wealthiest families six centuries ago. As The Wall Street Journal reported this month , economists Guglielmo Barone and Sauro Mocetti looked at tax records compiled in Florence in 1427 alongside municipal tax data from 2011.